Archive - March 2015

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Money and happiness
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Women Can Increase Their Financial Literacy and Confidence
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Are CEOs Talented or Just Lucky?
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Where to Keep Your Emergency Fund
5
How to Choose a Financial Planner

Money and happiness

We all know money doesn’t buy happiness. We also know that having no money can really affect happiness. But can you handle money in specific ways to increase everyday happiness? I’ve been reading The Happiness Project by Gretchen Rubin, and one idea really caught my attention.

Rubin talks about two different orientations: in simplest terms, the underbuyers, who put off buying things until they run out, wait out pains or illnesses to see if they’ll go away, and never pop for the expensive haircut or premium manicure. Then, there are the overbuyers, who have far more sheer …

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Women Can Increase Their Financial Literacy and Confidence

Last week we looked at “Lessons from Downton Abbey about women and money,” a PBS.org article that focuses on the financial planning (or lack thereof) contemplated by female characters on the hit show “Downton Abbey.” Women, both now and during the early twentieth century when the show is set, demonstrate varying levels of confidence in money management and in their levels of financial literacy. To demonstrate this, the article cites results from a financial literacy study from a few years back. Confidence Gap When people in the U.S. took the 2009 National Financial Capability Study, women… Read More

Are CEOs Talented or Just Lucky?

Are CEOs Talented or Just Lucky?

For too long, the only voices accusing many of America’s corporate executives of excessive pay came from a small group of academics and activist investors. When the divorce of a billionaire oil executive went to court, an unlikely voice joined the chorus.

The legal defense of Harold Hamm, chief executive of Continental Resources, hinged on the belief that a majority of his wealth was simply the result of happenstance and luck. The defendant wasn’t talented, they argued, he was simply part of an energy industry experiencing a rising tide of growth. If the courts agreed with Hamm’s feeble self-assessment, it …

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Where to Keep Your Emergency Fund

Ask any qualified financial planner and they’ll generally tell you to have at least 3 to 6 months of living expenses set aside in order to fund a “rainy day” in the future. This emergency fund is there to help you pay bills such as your mortgage, utilities, and groceries in the event you lose your job, become disabled, or to pay for an unexpected emergency (such as a car or home repair). Some folks may need greater than 6 months expenses if they lose a job that may be hard to find again or a single income family that …

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How to Choose a Financial Planner

Before you sign a contract or buy a product consider the following before choosing your financial planner.

  1. Make sure they’re a CFP®. At the very minimum, a CERTIFIED FINANCIAL PLANNER™ has the met the education, exam, ethics and experience requirements in order to be qualified to discuss your financial planning needs. Anyone can call themselves a financial planner, but not everyone is a CFP®. This should be the starting point of your search. Just because the planner is a CFP®, doesn’t mean you should automatically work with them.
  1. Make sure they’re a fiduciary. A fiduciary is legally required to act
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